Skanska PPP blow E-mail
Tuesday, 15 April 2008

Skanska has revealed that it will take a £27m hit in the UK in the first quarter 2008, mainly related to three projects with fixed price contracts.

The projects are delivered on a PPP (Public Private Partnership) basis where Skanska is responsible for financing, design, construction and operations during a defined period. The projects have a combined construction value of approximately £1.1bn and production spans over several years.

Skanska says that during the production period, the projects' scope changed which has led to substantial increases in the cost to complete them on schedule.

 

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